Wednesday, January 20, 2016

Egypt unveils Suez Canal projects for Chinese investors

CCTV.com  01-20-2016 

Egypt's Suez Canal is a vital part of the Ancient Maritime Silk Road from China to South Europe. The extensions made to the canal and the possible investment projects are among Egypt's priorities in the discussions with visiting Chinese President Xi Jinping.
Since August last year, when President EL Sisi inaugurated the New Suez Canal Project, this vital water way has become ready to accommodate more ships and larger ones too. But the President's first national project was just the beginning for a bigger Egyptian dream, that should be constructed on Canal's desert shores. Cairo believes that these projects are a natural fit to China's global trade plans.
The Suez Canal developmental project is considered to be Egypt's economical salvation. Trade and industrial zones will be built in hopes to turn Egypt into a business hub of the region.
It's a vision China already started even before the latest expansion of the Suez Canal. A Chinese industrial zone is already under construction, it should accommodate up to 200 factories.
Egypt couldn't be happier by the timing of the Maritime silk road revival. And during President' Xi Jinping's meeting with his Egyptian counterpart, El Sisi's most favorite project will definitely top the economic cooperation files.

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